There's an interesting article here about using Internet hedge funds to predict what'll happen to prices. You can find current hedges for various housing markets here. Theoretically, they may be a good predictor of housing prices. If I'm interpreting the numbers right (I don't have more than a few minutes to try to understand them right now), it looks like the market doesn't expect San Diego's median home price to go above $643K by November. Fascinating stuff, and it might be worth keeping an eye on it.
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